NACCO Industries Inc
NC—
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NACCO Industries Inc AI Insights
Informational only. Not investment advice.Snapshot
- Trading at 0.87x book value with 421.5M tangible book vs 368M market cap - 14% discount to liquidation value[Price to Book Ratio]
- Capex of 58.4M TTM (21% of revenue) consuming 90% of operating cash flow - heavy reinvestment phase crushing FCF[Capital Expenditure TTM]
- ROE 7% and ROIC 5.9% TTM positive vs industry medians of -4.2% and -3.3% - profitable in unprofitable sector[Return on Equity TTM]
Watch Triggers
- Operating Income TTM: Turns positive — Would validate core business viability vs reliance on non-operating income
- Capital Expenditure TTM: Falls below 30M annually — Would unlock 30M+ incremental FCF, transforming cash generation profile
- Free Cash Flow TTM: Exceeds 25M — Would support dividend growth beyond current 1% yield and potential buybacks
Bull Case
Deep value at 0.87x P/B and 14.3x P/E with positive returns (7% ROE) in sector where median company loses money
Price to Book RatioReturn on Equity TTMP/E Ratio
Conservative balance sheet with 0.21 debt/equity and 140M working capital provides downside protection in cyclical industry
Debt to EquityWorking CapitalCash and Equivalents
Bear Case
Operating margin -16.2% TTM signals core business unprofitable; net income relies on non-operating items (29M net vs -46M operating)
Operating Margin TTMOperating Income TTMNet Income TTM
Capex intensity (58M/year) may persist given coal mining nature, permanently suppressing FCF and shareholder returns
Capital Expenditure TTMFree Cash Flow TTMPPE
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Capex cycle peak suggests FCF inflection as 58M annual spend normalizes against 65M operating cash flow
1-3ymed
- PPE at 282.6M indicates major asset build nearing completion
- Operating cash flow of 64.7M TTM proves underlying profitability
- Debt/equity at 0.21 provides capacity if capex extends
FCF only 6.3M TTM vs 64.7M operating CFCapex 21% of revenue vs 7% industry medianNet debt only 27.5M vs 426M equity
Valuation Context
Caveats
Public Strategies Rankings
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NC Fundamentals
Mining, Quarrying, and Oil and Gas Extraction → Mining (except Oil and Gas)
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$386.43M | — | ||
$445.56M | — | ||
22 | — | ||
$277.2M | +16.6% | — | |
$2.35 | +19.0% | — | |
-14.6% | +3.4% | — | |
6.34% | -7.9% | — | |
$2.28M | — | ||
4.21% | -4.4% | — | |
Beta 5Y (Monthly) | unknown | — |
NC Dividend History
105 dividends
2026
$0.252503/02/26$0.2525
2025
$0.985012/01/25$0.2525
09/02/25$0.2525
05/30/25$0.2525
03/03/25$0.2275
2024
$0.900012/02/24$0.2275
09/03/24$0.2275
05/31/24$0.2275
03/01/24$0.2175
2023
$0.860011/29/23$0.2175
09/01/23$0.2175
05/30/23$0.2175
03/06/23$0.2075
2022
$0.820011/29/22$0.2075
08/30/22$0.2075
05/27/22$0.2075
03/04/22$0.1975
2021
$0.785011/29/21$0.1975
08/30/21$0.1975
05/28/21$0.1975
03/05/21$0.1925
2020
$0.767511/27/20$0.1925
08/31/20$0.1925
05/28/20$0.1925
02/27/20$0.1900
2019
$0.735011/27/19$0.1900
08/29/19$0.1900
05/30/19$0.1900
02/28/19$0.1650
2018
$0.660011/29/18$0.1650
08/30/18$0.1650
05/31/18$0.1650
02/28/18$0.1650
2017
$0.977511/30/17$0.1650
08/30/17$0.2725
05/30/17$0.2725
02/27/17$0.2675
2016
$1.065011/29/16$0.2675
08/30/16$0.2675
05/27/16$0.2675
02/26/16$0.2625
2015
$1.045011/27/15$0.2625
08/28/15$0.2625
05/28/15$0.2625
02/25/15$0.2575
2014
$1.022511/26/14$0.2575
08/27/14$0.2575
05/28/14$0.2575
02/26/14$0.2500
2013
$1.000011/26/13$0.2500
08/28/13$0.2500
05/29/13$0.2500
02/27/13$0.2500
2012
$5.377511/28/12$3.7500
08/29/12$0.5475
05/30/12$0.5475
02/28/12$0.5325
2011
$2.120011/29/11$0.5325
08/30/11$0.5325
05/27/11$0.5325
02/25/11$0.5225
2010
$2.085011/29/10$0.5225
08/30/10$0.5225
05/27/10$0.5225
02/25/10$0.5175
2009
$2.067511/27/09$0.5175
08/28/09$0.5175
05/28/09$0.5175
02/26/09$0.5150
2008
$2.045011/26/08$0.5150
08/28/08$0.5150
05/29/08$0.5150
02/27/08$0.5000
2007
$1.980011/28/07$0.5000
08/29/07$0.5000
05/30/07$0.5000
02/27/07$0.4800
2006
$1.905011/29/06$0.4800
08/30/06$0.4800
05/30/06$0.4800
02/27/06$0.4650
2005
$1.847511/29/05$0.4650
08/30/05$0.4650
05/27/05$0.4650
02/25/05$0.4525
2004
$1.675011/29/04$0.4525
08/30/04$0.4525
05/27/04$0.3900
02/26/04$0.3800
2003
$1.260011/26/03$0.3800
08/28/03$0.3800
05/29/03$0.2550
02/26/03$0.2450
2002
$0.970011/27/02$0.2450
08/29/02$0.2450
05/29/02$0.2450
02/27/02$0.2350
2001
$0.930011/28/01$0.2350
08/29/01$0.2350
05/30/01$0.2350
02/27/01$0.2250
2000
$0.890011/29/00$0.2250
08/30/00$0.2250
05/30/00$0.2250
02/28/00$0.2150
NC Stock Splits
No stock splits
NC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
03/04/26 | 12/31/25 | 10-K | |
11/05/25 | 09/30/25 | 10-Q | |
08/06/25 | 06/30/25 | 10-Q | |
04/30/25 | 03/31/25 | 10-Q | |
03/05/25 | 12/31/24 | Unknown | |
10/30/24 | 09/30/24 | 10-Q | |
07/31/24 | 06/30/24 | 10-Q | |
05/01/24 | 03/31/24 | 10-Q | |
03/06/24 | 12/31/23 | 10-K | |
11/01/23 | 09/30/23 | 10-Q | |
08/02/23 | 06/30/23 | 10-Q | |
05/03/23 | 03/31/23 | 10-Q | |
03/15/23 | 12/31/22 | 10-K | |
11/02/22 | 09/30/22 | 10-Q | |
08/03/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
03/02/22 | 12/31/21 | 10-K | |
11/03/21 | 09/30/21 | 10-Q | |
08/04/21 | 06/30/21 | 10-Q | |
05/05/21 | 03/31/21 | 10-Q | |
03/03/21 | 12/31/20 | 10-K | |
11/02/20 | 09/30/20 | 10-Q | |
08/05/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
03/04/20 | 12/31/19 | 10-K | |
10/30/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
05/01/19 | 03/31/19 | 10-Q | |
03/06/19 | 12/31/18 | 10-K | |
10/30/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
03/07/18 | 12/31/17 | 10-K | |
11/01/17 | 09/30/17 | 10-Q | |
08/01/17 | 06/30/17 | 10-Q | |
05/02/17 | 03/31/17 | 10-Q | |
03/01/17 | 12/31/16 | 10-K | |
11/01/16 | 09/30/16 | 10-Q | |
08/02/16 | 06/30/16 | 10-Q | |
05/04/16 | 03/31/16 | 10-Q | |
03/02/16 | 12/31/15 | 10-K | |
11/03/15 | 09/30/15 | 10-Q | |
08/05/15 | 06/30/15 | 10-Q | |
05/05/15 | 03/31/15 | 10-Q | |
03/09/15 | 12/31/14 | 10-K | |
10/29/14 | 09/30/14 | 10-Q | |
07/30/14 | 06/30/14 | 10-Q | |
04/30/14 | 03/31/14 | 10-Q | |
03/04/14 | 12/31/13 | 10-K | |
10/30/13 | 09/30/13 | 10-Q | |
08/07/13 | 06/30/13 | 10-Q | |
05/01/13 | 03/31/13 | 10-Q | |
03/06/13 | 12/31/12 | 10-K | |
11/01/12 | 09/30/12 | 10-Q | |
08/02/12 | 06/30/12 | 10-Q | |
05/02/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/08/11 | 09/30/11 | 10-Q | |
08/03/11 | 06/30/11 | 10-Q | |
05/04/11 | 03/31/11 | 10-Q | |
03/02/11 | 12/31/10 | 10-K | |
11/03/10 | 09/30/10 | 10-Q | |
08/04/10 | 06/30/10 | 10-Q | |
05/05/10 | 03/31/10 | 10-Q | |
03/02/10 | 12/31/09 | 10-K | |
11/04/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/05/09 | 03/30/09 | 10-Q | |
03/13/09 | 12/31/08 | 10-K | |
11/04/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
04/30/08 | 03/30/08 | Unknown | -- |
02/26/08 | 12/31/07 | 5 | |
10/30/07 | 09/30/07 | 10-Q | |
08/06/07 | 06/30/07 | 10-Q | |
05/01/07 | 03/30/07 | Unknown | -- |
02/28/07 | 12/31/06 | 5 | |
11/02/06 | 09/30/06 | 10-Q | |
08/02/06 | 06/30/06 | 10-Q | |
05/03/06 | 03/30/06 | Unknown | -- |
03/01/06 | 12/31/05 | 5 | |
11/03/05 | 09/30/05 | 10-Q | |
08/08/05 | 06/30/05 | 10-Q | |
05/04/05 | 03/30/05 | Unknown | -- |
03/15/05 | 12/31/04 | 5 | |
11/04/04 | 09/30/04 | 10-Q | |
08/06/04 | 06/30/04 | 10-Q | |
05/10/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | 10-K | |
11/13/03 | 09/30/03 | 10-Q | |
08/13/03 | 06/30/03 | 8-K | |
05/14/03 | 03/30/03 | Unknown | -- |
03/27/03 | 12/31/02 | 10-K | |
11/13/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 8-K | |
05/13/02 | 03/30/02 | Unknown | -- |
03/26/02 | 12/31/01 | 10-K | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/14/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | 10-K | |
11/13/00 | 09/30/00 | 10-Q | |
08/11/00 | 06/30/00 | 10-Q | |
05/12/00 | 03/30/00 | Unknown | -- |